SBP to announce monetary policy on 22nd

The Monetary Policy Committee of the State Bank of Pakistan (SBP) would meet on Friday to decide about the country policy rate.

According to a statement issued on Tuesday, SBP Governor Dr Reza Baqir will address a press conference on the same day after the MPC meeting.

Earlier in November 2020, the central bank had kept the main policy rate unchanged at 7 per cent, as “risks to the outlook for both growth and inflation appeared balanced”.

It may be noted that the SBP in June last year had decided to slash the country’s policy rate by 100 points to 7pc, the fifth time since the coronavirus pandemic hit the global economy, with the total reduction being 625 basis points.

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